Indonesian Property Fraud

Property Fraud

Land and buildings are usually the most valuable assets people own.They can be sold and mortgaged to raise money and can therefore beattractive targets for fraudsters.Land Registry, professional conveyancers and mortgage lenders all have safeguards to minimise the risk of a fraud being successful. However it is important that property owners do what they can to help prevent fraud and to protect their ownership in the same way that they protect other things they ownExamples of situations where property fraud can arise Anyone owning an interest in property can be the victim of property fraud, but there are some situations where this is more likely,such as:

where a relationship breaks down

where a property is empty or is bought to let

where the owner is abroad or absent

where the owner is infirm or if you are in any of these situations, or you are otherwise concerned that you may become the victim of property fraud, seek advice from a professional conveyancer such as a solicitor or a Citizens Advice Bureau and consider taking action.In order to do this you will need reliable information - Contact us immediately.

One of the several type of scams and frauds hovering around is the one faced by homeowners. A property fraud scam or real estate scam involves a scammer or fraudster creating a bogus deed from sample documents and then registering the deed at the land record office. All this happens while the real home owner is completely unaware of the scam. Scammers use fake names and fake identities to carry-out such a fraud.When all the documents have been collated by the fraudster, the next step is to apply for a mortgage. It has been found that in many such cases the scammers have eluded the security checks and disappeared with the money.After a few months when the loan payments become overdue the authorities contact the real homeowner and informs them that a foreclosure proceeding is about to start. This leaves the homeowner with no other option but to hire a lawyer to stop the foreclosure proceedings.One of the ways to stop this property fraud scam is the timely detection of such a fraud. Scammers and fraudsters wait for a few months after recording the deed and before applying for a loan, this is the time when such a property fraud scam can be avoided.